The voluntary winding up of the affairs of a Gibraltar company by its member(s) can be a relatively straightforward, cost-effective and time-efficient process, and for which a Gibco must be solvent upon commencement of its liquidation. In addition, the wide-ranging powers afforded to Liquidators of a Gibraltar entity allow significant flexibility in the manner of effecting liquidation distributions. So much so, that we have seen clients use the relative ease of redomiciliation of an entity into Gibraltar as a means of capitalising upon the advantages Gibraltar offers in bringing an entity to the conclusion of its life cycle. The below offers a brief, pictorial summary of the process. We have extensive experience assisting a vast array of clients, ranging from ‘blue-chip’ multinationals to individuals.
So, in summary, commencement to completion of effective liquidation distributions and substantive conclusion within 10 weeks, save formal dissolution and removal from Gibraltar Register of Companies after expiry of further 3 month statutory waiting period.
For more information, please contact one of the Corporate & Commercial team.
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